Want to know what your mortgage loan payment is going to be?
Take the purchase price of your new home, figure out how much you’ll be putting down in cash and how much you’ll be borrowing.
If the current interest rate is what you see in the left-handed column, multiple the amount you’re borrowing by the corresponding number in the right-handed column.
So, if you’re buying a $500,000 home, and borrowing $400,000, and the interest rate right now is 6.125%, you’ll pay $6.08 for each $1,000 you borrow.
Meaning, you’ll pay $6.08 x 400, or $2,432 per month.
Rates are pretty close to six percent right now, so it’s easiest to just take the amount you are borrowing and multiply it by six, to get an estimate of your monthly loan payment.
Interest Rate Payment (per ‘000s)
4.000 4.77
4.125 4.85
4.250 4.92
4.375 4.99
4.500 5.07
4.625 5.14
4.750 5.22
4.875 5.29
5.000 5.37
5.125 5.44
5.250 5.52
5.375 5.60
5.500 5.68
5.625 5.76
5.750 5.84
5.875 5.92
6.000 6.00
6.125 6.08
6.250 6.16
6.375 6.24
6.500 6.32
6.625 6.40
6.750 6.48
6.875 6.57
7.000 6.65
7.125 6.74
7.250 6.82
7.375 6.91
7.500 6.99
7.625 7.08
7.750 7.16
7.875 7.25
8.000 7.34
8.125 7.42
8.250 7.51
8.375 7.60
8.500 7.69
8.625 7.78
8.750 7.87
8.875 7.96
9.000 8.05
9.125 8.14
9.250 8.23
9.375 8.32
9.500 8.41
9.625 8.50
9.750 8.59
9.875 8.68
10.00 8.77
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Updated: 1st Quarter 2018
